In a freshly published personal account, named Ithaki, the former premier Tsipras spares no criticism while he reflects on that turbulent era during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras selected that unorthodox academic Varoufakis as his treasury head largely because of his international reputation and Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, in reality, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges how Varoufakis had a personal motives which involved advancing Varoufakis's publications as well as experimenting with his own theories using Greece rather than genuinely fighting for the country's financial survival.
Tsipras explained that the talks to stave off bankruptcy were “not just a method of achieving improved terms for the country. They were an experiment, a monumental chance to prove the truth of his economic theories.”
Critical Negotiations
During volatile negotiations, Greece came dangerously close to exiting the single currency area.
On the line lay not only the country's future and those harsh austerity measures required in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action that plunged Europe into further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option to reject its outcome and negotiate a rescue deal from creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, the author asserts how Varoufakis demonstrated himself “unfit for a deal that required complex and delicate handling.”
Tsipras further claimed how Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
